VR Viewers
Go Global As
ReelTime
VRs' Shows
Reach 49 countries
May 20, 2019 --
InvestorsHub NewsWire -- Virtual Reality
Insider -- Virtual Reality/AR is
just beginning to explode with early adoption now expanding across
the Globe and has been witnessing a steady growth. Although
the earliest adoption has been primarily in the Gaming segments,
Real Life VR series such as the ones produced by
ReelTime
VR
(OTCPK:
RLTR)
have rapidly been growing in popularity as a new form of immersive
entertainment and education. The market is expected to grow with a
double digit CAGR of 23.13% during the period from
2018-2025. According
a SuperData
Research
report, the global AR/VR
market was
valued at around USD 26.7 billion in 2018 and is expected to reach
approximately USD 814.7 billion by 2025, at a CAGR of 63.01%
between 2019 and 2025.
ReelTime
VR
is not new to VR having reached the forefront of the
VR
Content and Technology development cycle by producing the most
technologically advanced VR content at the time utilizing a myriad
of RED cameras and a proprietary encoding technology over three
years ago. ReelTime
VR
has certainly not slowed in its development
and cutting-edge productions since. Last year ReelTime
VR
was chosen by VR Biz Journal in The VR Biz Awards as The "Best Live
Action Series" for "Really
Twins"
the world's top tween VR adventure series, and "Best Travel Series"
for "In Front of View" hosted by supermodel Front
Montgomery and
her daughter Leonie Montgomery. Both series combined, now in their
second
seasons, have now been viewed in 49 countries
in the last year on nearly every major platform or
device.
Those counties are Canada, USA, Mexico, Brazil, Paraguay,
Argentina, Russia, Japan, South Korea, Philippines, Malaysia,
Indonesia, New Zealand, Australia,
Thailand, Vietnam, Laos, India, Kazakhstan, Iran, United
Arab
Emerites,
Yemen, Saudi Arabia, Egypt, South Africa, Turkey, Morocco,
Bulgaria, Greece, Romania, Norway, Finland, Sweden, Latvia,
Lithuania, Poland, Slovakia, Hungary, Austria, Czech
Republic,
Germany, Switzerland, Italy, Denmark, Netherlands, France, Spain,
United Kingdom, and Ireland.
North America
maintains a strong hold on the largest share of the global AR/VR
market, yet Europe is predicted to hold a substantial market share
in the future. Asia Pacific,
however, is likely to surpass all regions as the demand for
digitally enhanced reality is growing substantially.
It
is not just the global reach of the content that is so impactful to
the industry, but the number of diverse devices that are being used in
increasing frequency as well. In
2018 virtual reality (VR) hardware outperformed optimistic sales
expectations last year. The research company SuperData
Research
reports that
annual VR
revenues in 2018 reached
$3.6 billion —
higher than
the 2018 forecast of $3.3 billion. This represents a 30 percent
year-over-year increase in revenues. According
to the report, Sony's PlayStation VR became
the market leader during the holiday quarter,
selling 700,000
units —
the largest number of headsets
sold across any category. By contrast, the
standalone Oculus
Go sold 555,000 units, with the PC-tethered Oculus Rift and
HTC Vive
selling
160,000 and 130,000 headsets. PlayStation
VR overtook Samsung
Gear VR to become the market leader as consumers
craved
higher-end experiences in console, PC and standalone
headsets. Shipments of (AR/VR) headsets
will jump 54% to 8.9 million units worldwide this year. The annual
growth rate will accelerate to 67% over the next four years with
shipments reaching 68.6 million in 2023 according to International
Data Corp.
Companies
such as
Microsoft, Intel, Samsung, Facebook, Google, and Sony are investing
heavily in the infrastructure and technologies fueling AR/VR and
are allocating significant R&D budgets towards their
development. Microsoft alone reportedly has over ten thousand
AR/VR patents
filed across thousands of patent families. ReelTime
VR
however, may have the most significant of all AR/VR patents
currently being processed in the industry having filed a very broad
patent. The
Simultaneous Spherical Panarama
Image
and Video Capturing
System (code named the "Periramascope"),
as described in the pending patent application as a "360-degree
image and capturing system having no lenses, a single lens, or a
plurality of lenses. The device directs light from a sphere
surrounding the device
to a single reflected aggregate image that is then transformed into
a full 360 X 360 spherical image or any subset thereof…"
J.D. Houvener,
CEO of Bold Patents and author of "Bold Ideas," stated: "The
intellectual property contained in the
non-provisional
patent application we filed on behalf of ReelTime
VR
has the potential to be completely industry shaping. Our team of
experts was able to articulate the claims of the invention quite
broadly so
as to provide
ReelTime
VR
with the strongest and broadest protections
available to them." If fully granted, many believe that numerous
significant players in the industry are currently infringing and
would be compelled to license the underlying technology from
ReelTime
VR.
AR
and VR hold high importance in the media
and entertainment industry as it is utilized for numerous
applications and has created a revolution. Over the last several
years, AR and VR have become a necessity for the film making
industry. Many players of the media and entertainment industry, be
it
Hollywood or any other film industry, are rapidly adopting AR and
VR. In the last three to five years, the evolution of VR and AR
production has been rapid globally. The entertainment and media
industry is
anticipated
to account for more than USD 2,201 billion
by 2020. The growing demand for AR / VR is anticipated to fuel the
augmented and virtual reality market over the forecast time period.
With rising technological advancements and increasing demand for
AR/VR in the film sector, the media and
entertainment
industry is facing the threat of shortage in the availability of
skilled artists.
With
a shortage of content producers needed to fill the void of widening
popularity, investors are looking not only to leverage their AR/VR
bets on established gorillas such
as Microsoft (NASDAQ: MSFT), and Google,
(NASDAQ: GOOGL) but also on
industry pioneers such as ReelTime
VR
(OTCPK: RLTR) who are well
positioned for extensive exponential growth.
To
read the most up to date news about Virtual Reality and Augmented
Reality visit
www.virtualrealityinsider.com
SOURCE: Virtual Reality
Insider